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Ireland : HIBERNIA REIT agrees EUR100M revolving credit facility

August 16, 2014

Hibernia REIT has approved an EUR 100 million, three-year revolving loan with Bank of Ireland.

As it seeks to further expand its Dublin-based commercial property portfolio, the deal Hibernia's maiden corporate debt facility effectively boosts its buying capability to around 140m.

The firm, which is among the new breed of real estate investment funds to have floated in the last year said at its AGM in Dublin in July that it was talking with several prospective lenders.

While the debt option was always expected to be its first preferred option, management told that it had been also thinking over other funding options like equity and joint-venture agreements.

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Source: TendersInfo (India)

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